Rise in Shipping Cost; Need for Truck to Ship LNG Bunkering

Businessday has reported that Maersk Line, the world’s largest container shipping group has joined rival Mediterranean Shipping Co (MSC) in raising freight costs in response to rising oil prices, which surged to their highest levels in four years.

Maersk Line in a note to customers claimed that bunker prices for marine fuelhave risen more than 20 percent since the start of the year, and that in Europe prices have hit $440 per metric ton, the highest since 2014, which it said has forced it to introduce an “emergency bunker surcharge”.

Almost 90 percent of the world’s good trade travels by sea, and the higher fuel costs are ultimately likely to be passed on to consumers, with other shipping lines the following suit.

Aside, passing on the extra costs to consumers, what else can the shippers do?

Use of LNG as a Shipping Fuel. Explore cheaper and cleaner fuels like natural gas.